Travel + Leisure price target lowered to $39 from $54 at Barclays

Barclays analyst Brandt Montour lowered the firm’s price target on Travel + Leisure (TNL) to $39 from $54 and keeps an Underweight rating on the shares following the Q1 report. The company’s message of stability is reassuring versus the broader market tone, but given worsening delinquencies and new owner close rates, the reaffirmed fiscal year guidance looks “increasingly difficult sitting here today,” the analyst tells investors in a research note.